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The Commercial International Bank, the NBE and Bank of Alexandria followed in the second, third and fourth position.
Moody's Investors Service has today affirmed and changed to stable from negative the outlook on the long term local currency deposit ratings of five Egyptian banks -- namely National Bank of Egypt SAE (Caa1), Banque Misr SAE (Caa1), Banque du Caire SAE (Caa1), Commercial International Bank (Egypt) SAE (Caa1) and Bank of Alexandria SAE (B3).
Intesa acquired 80pc of Bank of Alexandria in Egypt in 2006 and could consider selling it in return for cash and shares in a larger, more liquid Gulf bank, they said.
Omar, the former chairman of the Egypt's Bank of Alexandria and the Federation of Egyptian Banks, was also slapped with a five million dollars lawsuit in the Manhattan Federal Court.
The five banks affected by Moody's cuts were the National Bank of Egypt, Banque Misr, Banque du Caire, Commercial International Bank and Bank of Alexandria.
3 bln), while Bank of Alexandria had total assets of EGP 34.
35 million held by Red River Bank of Alexandria, La.
Bank of Alexandria 2 Money Market Fund has been leading the market in a three-year performance assessment.